PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Strong Trading Volume – Still a Buy?

Shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw strong trading volume on Monday . 96,724 shares changed hands during mid-day trading, an increase of 89% from the previous session’s volume of 51,183 shares.The stock last traded at $49.90 and had previously closed at $49.87.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Trading Up 0.0 %

The business has a fifty day moving average price of $50.06 and a 200 day moving average price of $50.11.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SMMU. Bank of New York Mellon Corp raised its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,432 shares of the company’s stock valued at $3,113,000 after purchasing an additional 205 shares during the period. Farther Finance Advisors LLC boosted its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 120.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 24,791 shares of the company’s stock worth $1,232,000 after acquiring an additional 13,569 shares during the period. Anchor Investment Management LLC grew its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 250.0% during the 2nd quarter. Anchor Investment Management LLC now owns 3,500 shares of the company’s stock valued at $175,000 after acquiring an additional 2,500 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 178.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,782 shares of the company’s stock valued at $90,000 after purchasing an additional 1,141 shares during the period. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the third quarter worth approximately $31,000.

About PIMCO Short Term Municipal Bond Exchange-Traded Fund

PIMCO Short Term Municipal Bond ETF, formerly PIMCO Short Term Municipal Bond Strategy Fund, is an exchange-traded fund. It is designed to be appropriate for investors seeking tax-exempt income. The Fund consists of a portfolio of primarily short duration, bonds which carry interest income that is exempt from federal tax and in some cases state tax.